Today both indices opened with a mild gap-up. Then both made the high precisely near the resistance (17560/36600), discussed in yesterday’s analysis. And from there, both moved down and ended the session in the red.
The bulls in Nifty are in control, but the 17560 Gann level can act as a hurdle. So bulls have to break & sustain above it for a fast move towards 17660/17800.
But If bulls fail to do so in coming sessions, the Index can again move lower. And bears need to break and sustain below the 17390-380 zone to get control.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 17510 to move towards 17560/17620/17690.
On the lower side, the Gann support level is 17430; below that Index can move towards 17380/17320/17250.
Bank Nifty bulls need to break 36600 for a strong upside move. If they fail to do so, the Index can re-visit the lower levels. And bears need to break and sustain below the 36050-35900 zone to get control.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 36600 to move towards 36750/36950/37200.
On the lower side, the Gann support level is 36250; below that Bank Nifty Index can move towards 36100/35900/35650.
Note: The above levels are for educational purposes only, not Buy/Sell advice.